bq.. KARACHI, Sept 13: With about 10 million bales of cotton production, but with hardly 3 per cent share in annual world textile export trade of $157.5 billion and only 1.1 per cent in $199 billion world clothing export , Pakistan prepares for entering a new era of textile and clothing business after 15 months when Multi Fibre Arrangement (MFA) comes to final end in January 2005.
From January 2005 onwards, the textile business will be governed under Agreement on Textiles and Clothing (ATC) signed under the auspices of World Trade Organization. Textile Monitoring Board (TMB) is now monitoring the implementation of new rules of the trade that offers both challenges and opportunities to countries like Pakistan.
The challenges are unpredictable and volatile exchange control, vagaries of weather and unforeseen events that could knock out all projections and affect textile trade. Growing regional trade blocs may lead to de-localisation and impact textile business.
» Pakistan ready to enter: Textile trade post-2005 era
p. Investment of $4 billion in textiles have been made during the last 4 years in Pakistan. The expected contribution break up by the textile sector in total exports is $7.54 billion at 66.71% of total exports.
# 7.54 billion – textiles – (66.71%)
# 2.35 billion – rice, leather, sports goods, wool and carpet, petroleum products, meat, molasses, surgical instruments – (20.79%)
# 0.15 billion – fisheries – (1%)
# 1.3 billion – others (11.5%)
Another interesting article on Pakistan’s textile industry is from last month, Projection for ’03-04 raised to $12.1bn: 2002-03 export stands at $11.13bn.